About this Show

Cavuto on Business

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. (CC)

NETWORK

DURATION
00:30:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Virtual Ch. 130 (Fox Business)

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
704

PIXEL HEIGHT
480

TOPIC FREQUENCY

Neil 7, Charlie 5, Ben Stein 4, Adam 4, Ho 4, Italy 3, Warren Buffett 3, Obama 2, U.s. 2, France 2, Us 1, Superstorm Sandy 1, New York 1, Spain 1, America 1, Pennsylvania 1, India 1, Jonas 1, New England 1, Intro 1,
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  FOX Business    Cavuto on Business    News/Business. Neil Cavuto and market  
   analysts discuss financial issues and forecasts. (CC)  

    December 2, 2012
    8:30 - 9:00am EST  

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investors running for cover. >> brenda: bull or bear? >> i'm a bear, they're going to stay home. the u.s. stocks all the way. >> brenda: jonas, prediction? go for it. >> there's a helium shortage and it's good tore air products and chemicals up 20% for the year, up and up and away. >> brenda: toby? >> and now what? i don't think it's heliu he's ingestingight there. (laughter) >> and happy birthday, toby. >> thank you very mu. >> brenda: take it away, plea please. >> neil: with the fiscal doomsday 30 days away and us 16 trillion bucks in the red. is there any time for shelling out more green. hi, everyone, happy to have you. and so much for the spending cuts to cut our debt and falling for billions in new stimulus spending. get this, it would be part of the dough aimed at avoiding a cliff by creating more
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spending. are you following this? i'm not. maybe these guys are. ben stein, charles payne, sandra smith and adam and charl charlie. >> you laugh because you want to cry. >> neil: sometimes you laugh simply because you want to laugh. (laughter) >> since november 2011, we're 30 days away from this. are you serious? you want 50 billion in stimulus? it's nuts, crazy and disingenuous, if this is negotiating,e're in trouble. this is the ultimate power grab. the conduct is essentially split almost completely in half and this is saying to the other half, forget about you, forget about small businesses, forget about moderately successful couples who do everything the right way. we'reoing to crush you and crush the future of success of anybody in this nation. >> neil: sandra, he seems upset. >> rightly so.
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he president's proposal right now on the table as john boehner detailed this week, he basically said this is not a serious proposal and here he is asking for more spending, neil, what i find more conflicting, when, since when is the conversation, the natural conversation become nearly-- we raise taxes or else? and it seems like the president is saying that that is the only option on the table and if nothing else happens, it's the republican's fault that we fall off the cliff and go io recession in the new year. >> and you don't believe charlie gasperino or what jay carney says, we could deal with spending cuts up front as well? >> i don't know why anybody is surprised by the opening salvo. i think this is basically it. i don't think that the president's going to budge. i mean, there's a dilutional nature of president obama. he won 50% of the vote and yet, he thinks h won 90% of the vote and that's how he's acting now and i don't care what anybody says, there is no rational reason to raise taxes right now.
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you don't get enough revenue to deal with the deficit and by the way, we got 2.7% economic growth, which people were jumping up clapping about the markets were, but that's still pretty lousy. >> all of that inventory build. >> that won't happen again u ben stein? >> one reason to raise taxes we have 1 trillion dollar eficit, but i agree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3illion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that that's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's owing. >> neil: adam, i'm worried that they make a christmas treeut of this and throwing
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more and more ornamts because it's the next legislation that we're cobblingogether we might as well put some spending in there. in this case, a minimum of 50 billion others like chuck scmer talked not trying to find a way to wiggle half a trillion dollars for another construction effort here, and on and on and on. >> well, of course, unfortunately, neil, i should say for better or worse, the way you're describing it is in fact the way it works, that's how the christmas tree gets built and-- >> you don't find it ironic, part of a year end fiscal cliff avoider meant to address spending includes measures that hike spending? >> well, you'll getting there. i mean, i think it's curious to-- >> well, let me-- seriously, i have not even gotten a sense of where there is. >> well, here is the point, neil. you mentioned at the opener and again that this is about addressing spending. of course it's about
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addressing spending, but that's not the only i think it's about. there's obviously, there's two ways to address this, right, through spending and through revenue. it's about both those things and the president has said that he's open to entitlement reform no matter what nancy pelosisays, and so, i think it's o the table. >> i wish i could-- >> adam. he doesn't have a valid proposal here. >> give me one detail that he's put out there in terms of containing entitlements, he's not. he rejected his own panel's recommendations and this is a guy who is dead set on his agenda, which is expanding the entitlements, not contracting it and i still haven't heard a rational reason why you need to raise taxes right now. you don't get enoh revenue for it and it's destimulative when you need to stimulate the economy. >> and you're talking about, when you take money out of small businesses? >> and adam, he deserves to answer your question. adam? >> he's talking about keeping taxes where they are for the
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straight majority othe country, charlie. he campaigned on this. he was elected on it, it doesn't matter. >> 50% othe vote on it. >> it doesn't matter, you know that as well as i do. it's only political. >> no, no, no, i'm not-- no, i'm not saying that, i'm saying that there's no rational reason. >> let me finish, charlie. >> and what is the rationality ttreat a small business person who makes $250,000 a year and employs ten people just like steve jobs, warren buffett and-- >> and we quibble? >> let me finish. we can quibble about what the right amount is, whether it's $250,000 or whether it's 500,000, what the president is trying to do. >> and for a while, charles, help me with this part of it. whatever your views on taxes, and i think it's happening and ben stein' earlier point, it's there. andeeply disturbing, where is it, not only there's a l lack of result to slowing what is the growth to spend because
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there's no cutting going on. but we're going to-- and that's what we're going to do and this is the effort and the measure you use to finally get serious. this is not serious. >> warren buffett laid it out on monday in that new york times op-ed and he said in an ideal world, we would still have deficit speing every single year and the president laid it out more than once and in an ideal world, we're still-- we're not talking about cutting debt. we're talking about increasing it at a slower rate and then later on, the idea of 50 billion in stimulus, oh, by the way, let's remove the debt ceiling after all, that's silly. we're the only country that does it, let's be like france, greece, and spain and not have one and get to the cliff-- >> a quick reminder, by the way, adam of the 16 trillion dollars of debt that currently is on the table for the united states. 6 billion of that debt, neil, has been put on the books under president obama's watch. >> 6 trillion. >> 6 trillion. we're talking about adding on to that.
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where is he he coming up with the numbers? which economist is he citing and where are the polls-- >> warren buffett said earlier in the week it's not about economics it's about making peopleeel good. -- let me stop a second. did you say where he does he pull these numbers out of. >> seriously, seriously. >> neil: i wanted to make sure i heard you correctly. talk about a pain in the gas. the price is record high this time of year and we're getting new proposals to hike gasoline prices to pay down the debt. where will it go. the gang from forbes is on that. that's at the top of the hour. forget having the in-la over for dinner, more families are shacking up together. young, old and everyone in between and we know what it's doing to our sanity.
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well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. here on the fox news channel, the most powerful name in news. ♪ >> and that cwd you recently had over for anksgiving dinner, it's like my in-laws, they're still there. and r the crowd, yet, stays over forever. do you think that's a stretch? i want you to think again. the new report that home builders are building more homes for what they call extended families.
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and families are staying together during tough economic times and what do you think there about that? >> if it's tough economic times, and i am shouldn't be bill ago new house. and i'm a grand father and full-time, it would have me moving out. and it's upsetting emotional thing and i want to stay the hell away from it. neil: it's interesting, sandra. home pririces moving up again and home building stabilize and the not back to the races, but better. >> better. >> neil: are we making too much of this or is this just the flip side of the same story? >> unfortunately, i think a lot of story is talking about grandpa and grandma moving into the house, but i don't see a lot of this as the college student who can't get a job. and moving back with the parents and parent making arrangements for this.
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>> neil: so you've met my daughter. >> i have not, but i'm sure she's lovely. listen, the average life expectancy in thisountry now is approaching 80 years old. >> that old. >> that's not that old. my goodness, not at old. >> neil: charlie, what do you think of it it? >> you know, as somebody whose parents tried to throw him out of the house at 15, what's interesting about this, kind of what like goes on in italy and show you how much we are to european style. >> neil: and don't drag our people down. >> i'm telling you, neil, people who stay with their parents. a term for italy who does this and they do this. >> neil: you're out of money. >> unemployed, underemployed and get paid your welfare payments and party every night and it's kind of where we're going and think this is a direct correlation, and i think-- >> and you could have cited any other country on earth, but you had to go-- >> you know what.
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>> and you could have gone after france, but no, no, mother italy. charles, charles. >> firsthand experience. >> a lot of it points to a serious insecurity and you know, kids gone directly from college with the parents and sometimes may even have a job, but everyone is so intimidated by the economy o such a lack and i don't care what the polls say, people are worried about this, we have mcmahons reconfigured and i was going to sell my home, me and my wife and become a snow bird and that's not happening. it's rrisom i know a guy who is actually charging his parent rent. i'm serious. (laughter) >> and neil. and giving the social security check, listen, i've the got a couple of rooms in the basement. >> and he's charging them? >> they say the company you keep. you keep your company. >> adam, adam?
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>> neil, i know you rely on me on this program to express reagan optimism and i have to say. >> neil: no. >> and i think there's something sweet about this. i think you all are msing the point. this gives us a an opportunity a country a little bit to get back to the community feeling where families are close to eachther and share each her's-- >> no wh, whoa, whoa. >> norman rockwell with a hammer and sickle on his forehead, what are you talking about? this is obviously a great sign of desperation. >> no, it's not. not necessarily. tre are benefits, both economic and otherwise and-- >> (laughter) >> and how do you bring home women what guys do? how do you-- >> and listen, i'm thinking practically here, you're really thinking this is good? >> i wantou to stop. and ben stein, final word on this subject? >> do you really think that families are happier when they're crammed together?
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have you ever been with a family on thanksgiving dinner? >> you're right. we're at each other's throats and love each other, right? are you going to tell me you don't love each other. >> yes, we love each other, but we're all-- >> all right, all right, well, thank you, adam for that, we needed that to laugh at that. and then, we come back-- >> you're welcome. >> talk about hope. the united nations using the tragedy of superstorm sandy, ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back,
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>> welcome back, plang the sandy card for the green agenda? it's true, the united nations pow wowing this week and using super storm sandy the reason why. and countries could pay up to 100 billion dollar to finance a green climate funds and help the poor nations fight global warming and one of the u.s. top scientists saying the is he vseverity of the storm is no coincidence. >> that's nonsense, i want a clean earth as much as anyone else. they can skim down the single hurricane on one facto or burning coal is nonsense. we had a bad hurricane in new england in the 30's and they didn't blame that on burning coal. we're burning a lot more coal relativeo the economy than we are now. there are control freaks out there. there are control freaks,
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they'll use something to control people and used it for y2k and there are control freaks on the environment. >> have you noticed even in your intro, you heard them citing one scientist. it's never a collection of scientists, never aonsensus of scientists, it's always they're referencing of one particular scientists. >> and in fact, it almost is always a consensus of scientists. in this case, one person they were quoting. with all due respect to you, ben, as you like to say, i'll go with the scientists over your opinion on global warming, this is someone who studies it for a living. >> and there are many w have a very different point of view. >> there are a million of people who study it. >> adam, the consensus has not been met among scientists on this issue or that it actually plays a part in the global warming phenomenon they've come up with somehow, so you should probably know that there is not a collective
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vwpoint. >> and whether there is or not. i think you want to make 100% sure before you plunk down to address something. >> and that's what i worry about. >> i don't want to be like the outsider here. >> god forbid. >>, but i do think there's a consensus,hat there's a global warming, but-- >>, but who knows? what can you do about it? >> you know, i don't think you can do that much about it unless you want to be industrialized china and india and the eveloping countries. that's the thing. >> two things going on, a progressive moment that only knows how to use fear to get what they want. >> brilliant, brilliant. >> and notion of victimization and in in case, third world nation. >> brilliant, brilliant. >> since the end of world war ii, western nations have given poor people around this world 2 trillion dollars, but it doesn't stop the u.n. or phonies like bono and nongovernment organizations for going out there and trying to shame western nations into giving money and by the way the poor nations never get it
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and someone puts it in their pocket and it's a travesty. i hope peoplen africa and others resist it, they're embracin capitalism and coming on stronger and stronger, and i he you-- the more you erace capitalism the more global warming there'll be. >> we accept that part. >> well, but i don want to get in an argument about climate change and all, but we do go through weather patterns in cycles and i can remember at a kid when we had huge storms every other day and i was a kid a decade ago. i guess to your point, adam, before we leap to spend a lot of money, don't you think we should all be universally behind the impact and the source of that, and that it will address this issue that you're worried about? and there is an agreement universally on this. >> and the short answer to your question, neil, of course is yes. the problem is, some people for political ideological asons want to stick their
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head in the sand and pretend is doesn't exist, there is a problem. and broad consensus. how are you going to fix the problem? and i don't know, you try. and you rlly have to try and make the developing nations of the modern world is to try. >> i wish we could try and have more time on this it, unfortunately we don't. i wan to thank charlie and sandra and writing this off her list, never to be her list, never to be repeaeaeaeaea [ male announcer ] you are a business pro.
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the big dividend in the stocks and energy oil and gas has upside potential to go along the five percent dividend yields. >> adam what do you think of that? >> it is extremely expensive and i would be concerned about that price. >> what is concerning you and what are you buying? >> waste management. why are always going to have garbage. it is an inexpensive stock for a well run company. >> not trash at all. waste management is some of theest management of company in america and has for a long time. >> what are you doing these days? >> i do a lot of thingings. i eat a lot. >> i set myself up. >> what i am liking is wre. i inherited from my mother and buy i